Hawaii Credit Union League
- Assets
- $3.8m
- Revenue
- $1.3m
- Investments
- $936.6k
- Employees
- 11
- Location
- Honolulu, HI
- Founding
- 04/1945
- Data as of
- 06/2023
- EIN
- 99-0039971
Organization Overview
Hawaii Credit Union League is located in Honolulu, HI. The organization was established in 1945. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 06/2023, Hawaii Credit Union League employed 11 individuals. This organization is an itermediate organization (such as a geographic headquarters) for a national or regional group of organizations. Hawaii Credit Union League is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2023, Hawaii Credit Union League generated $1.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $1.3m during the year ending 06/2023. While expenses have increased by 1.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE HAWAII CREDIT UNION LEAGUE (HCUL) IS THE TRADE ASSOCIATION THATSERVES THE INTEREST OF CREDIT UNIONS DOMICILED IN HAWAII AND GUAM.THESE CREDIT UNIONS SERVE THE FINANCIAL NEEDS OF RESIDENTS OF THESELOCALITIES. PERPETUATING THE CREDIT UNION PHILOSOPHY OF "PEOPLE HELPINGPEOPLE" IS OUR MISSION. PROMOTING COLLABORATION WITH OUR MEMBERS TOADDRESS THEIR NEEDS IS OUR PURPOSE. PROVIDING LEADERSHIP IN ADVOCACY,EDUCATION, AND INFORMATION IS OUR SHARED COMMITMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION AND TRAINING: TRAIN AND UPDATE CREDIT UNION PERSONNEL ANDVOLUNTEERS ON CREDIT UNION SERVICES AND OTHER RELATED MATTERS; DISCUSSTHE PROGRESS AND PROBLEMS OF CREDIT UNIONS AND RELATED PURPOSES. SERVESTHE INTERESTS OF CREDIT UNIONS DOMICILED IN HAWAII AND GUAM.
GOVERNMENT RELATIONS: ASSIST CREDIT UNION WITH REGULATORY MATTERS ANDLOBBY FOR OR AGAINST BILLS AFFECTING CREDIT UNIONS ON FEDERAL, STATE,AND COUNTY LEVELS; PROMOTE THE CREDIT UNION MOVEMENT AND THE WAY THEYASSIST MEMBERS, INCLUDING THOSE OF MODEST MEANS, THROUGH PUBLICAWARENESS OF CREDIT UNIONS AND THE SERVICES OFFERED BY THEM. SERVES THEINTERESTS OF CREDIT UNIONS DOMICILED IN HAWAII AND GUAM.
MEMBER SERVICES: HELP CREDIT UNIONS HELP THEIR MEMBERS BY PROVIDINGINFORMATION OF IMPORTANCE. SERVES THE INTERESTS OF CREDIT UNIONSDOMICILED IN HAWAII AND GUAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Norman Okimoto Chairman | OfficerTrustee | 10 | $0 |
Tess Shimabukuro Vice Chair | OfficerTrustee | 10 | $0 |
Scott Kaulukukui Secretary | OfficerTrustee | 10 | $0 |
Alan Arai Treasurer | OfficerTrustee | 10 | $0 |
Nicole Aguinaldo Director | Trustee | 10 | $0 |
Timothy Ashcraft Director | Trustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $700 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $700 |
| Total Program Service Revenue | $1,225,803 |
| Investment income | $28,697 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $31,510 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,296,560 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $53,598 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $470,193 |
| Pension plan accruals and contributions | $47,236 |
| Other employee benefits | $65,625 |
| Payroll taxes | $11,358 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,382 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $87,647 |
| Advertising and promotion | $1,300 |
| Office expenses | $12,941 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $14,374 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,125 |
| Interest | $102 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,860 |
| Insurance | $14,049 |
| All other expenses | $70,944 |
| Total functional expenses | $1,307,568 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $664,022 |
| Savings and temporary cash investments | $1,154,502 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $77,345 |
| Loans from Officers, Directors, or Controlling Persons | $512,239 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $97,760 |
| Net Land, buildings, and equipment | $347,517 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $936,578 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $18,594 |
| Total assets | $3,808,557 |
| Accounts payable and accrued expenses | $154,139 |
| Grants payable | $0 |
| Deferred revenue | $3,215 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,103 |
| Total liabilities | $159,457 |
| Net assets without donor restrictions | $3,527,914 |
| Net assets with donor restrictions | $121,186 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,808,557 |